TEMPO.CO, Jakarta - State gas company PGN (IDX: PGAS) booked US$2.16 billion revenues as per September 2017. The figure represents a small increase from last September's US$2.15 billion.
In quarter three, PGN's gas pipe has increased in length by more than 175 km, totaling at 7,450 km or accounting for 80 percent of the national downstream gas pipeline.
PGN corporate secretary Rachmat Hutama said the low growth is an impact of the slowing economy in Indonesia.
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"We are doing numerous efficiency measures to maintain profits amid the sluggish economy," she said in a press release, Monday, October 30.
In September, PGAS booked U$1,793.5 million from gas sales and U$316.5 from oil and gas sales. The company's operating profit as of September amounted to US$267.7 million.
Meanwhile, its net profit reached US$97.9 million with an EBITDA of US$632 million. The EBITDA in September 2017 is US$10 million lower than in the same month last year.
From January to September 2017, PGN has distributed 1,502 million cubic feet per day (MMscfd) of natural gas. Despite the slow economy, Rachmat remains confident that PGN's performance will improve.
M JULNIS FIRMANSYAH
